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Foreign trade down by 18 percent

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November 10: During the first two months of the current fiscal year, foreign trade in Nepal has decreased by 18 percent in comparison to the same period in the previous year. Both import and export have decreased during the period.  The ongoing protest in Terai and the unofficial blockade imposed by India have hampered both domestic and international trade.

In the first two months of the current fiscal year, total export and total import have decreased by 17.3 percent and 18.1 percent, respectively. Import of petroleum products that occupies 16 percent of total import has also decreased by 45 percent during the period.

Nepal exported gods worth Rs 14 billion and imported goods worth Rs 12.26 billion in the first two months of the current fiscal year. However, due to decline in imports, the trade deficit has decreased by 18.2 percent in comparison to the corresponding period of previous fiscal year. As per the data, trade deficit during the previous year had increased by 27 percent.

Nepal’s export/import ratio was 1:8 in the previous fiscal year.

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